Asian markets mixed as US-China strike 1-year trade deal
Asian stock markets showed mixed performance on Thursday, with some indices dipping and others recovering, even after US President Trump and China's President Xi struck a one-year trade deal in Busan.
The agreement lowers tariffs on Chinese goods from 57% to 47%, but investor reaction remained cautious.
Taiwan a sticking point in otherwise positive trade talks
This deal is the biggest thaw in US-China tensions since Trump returned to office, aiming to calm years of trade drama.
It covers big-ticket items like soybeans and tech, though Taiwan wasn't discussed.
Still, investors aren't celebrating just yet—they're waiting for more details before getting too excited.
Kospi rises on upbeat trade news, central banks react
South Korea's Kospi index actually rose a bit thanks to upbeat trade news and strong company earnings.
Meanwhile, oil prices took a hit—Brent crude dropped to $64.66 per barrel—right after the meeting's announcement.
Central banks are also reacting: Hong Kong cut its base rate by 0.25% to keep up with the US Fed's moves.